Category: Business

Amex Misses In Q4 Amid Lending Write-Offs

American Express posted earnings results on Thursday (Jan. 17) after markets closed that missed the Street, as merchant and services revenues were both below expectations, and write-offs tied to its lending business grew. Specifically, card member loan provisions were $679 million, up 21 percent from last year. In terms of headline numbers, revenues of roughly $10.5 billion […]

Walmart Expands eCommerce Grocery Delivery Partners

Walmart has announced it is adding four delivery companies to its team to help expand its online grocery delivery option. Delivery companies Point Pickup, Skipcart, AxleHire and Roadie will make deliveries in metro areas across four states, with further expansion planned in the coming weeks. “Customers love our Grocery Delivery service. As they are busy […]

Walmart Posts CEO Job For Mystery Store No. 8 Startup

Walmart is looking for a new CEO. Bloomberg reported that the retailer has posted an opening for a “CEO, Stealth Company” who would be in charge of Store No. 8. The new executive will be responsible for “building a business from scratch,” as well as working with senior Walmart leaders and acting as the “public […]

Are Consumers Ready To Buy And Sell Homes Online?

Way back in the day (which, in 21st century digital economy terms, probably means a decade or so), smart and important people used to express well-informed skepticism about the prospect of selling clothes, cars and even groceries via online or mobile channels. The concerns were reasonable and varied (logistical hurdles, perhaps, or just long-standing consumer […]

Credit Unions Step Up During Government Shutdown

There is no shortage of headlines about the partial government shutdown that is now on its 27th day, and no shortage of articles speculating how long it will go on, what will be affected and (most often) what it will take to finally bring it to an end. There is, yet, one simple takeaway from all of […]

CFPB Asks Congress For Authority To Oversee Military Lending Act Compliance

The Consumer Financial Protection Bureau (CFPB) has asked the United States Congress for the authority to supervise compliance of the Military Lending Act (MLA), the organization announced on Thursday (Jan. 17). In a statement, CFPB Director Kathleen Kraninger said she asked Congress to grant the organization “clear authority” to oversee the lending and its processes. “The […]

Data Breach Leaks 773M Emails, 21M Passwords

The largest public data breach ever has been discovered, according to Gizmodo. “Collection #1” has seen the exposure of nearly 773 million unique emails and more than 21 million unique passwords, affecting countless individuals. The breach is just one data batch of at least six more, collected by someone trying to sell the stolen info, […]

Amazon Investors Rally Against Gov’t Use Of Facial Recognition Tech

Some Amazon shareholders have sent a letter to the company, according to CNBC, demanding that it stop selling its facial recognition software to government agencies. The investors want the eCommerce giant to stop selling Rekognition — technology from Amazon Web Services (AWS) that can identify and track people, and their emotions — due to concerns over “immigrant surveillance […]

Google Buys Fossil Smartwatch Tech For $40M

Fossil Group has announced that it is selling $40 million of intellectual property (IP) related to smartwatch technology to Google. As a result of the news, Fossil’s shares jumped about 8 percent on Thursday (January 17), according to CNBC. In recent years, smartwatches have become Fossil’s fastest growing category — it launched smartwatches across 14 of […]

Peeling Back The Onion On Bank Earnings

Bank earnings — taken together, let’s call them a mixed bag. Or maybe liken them to an onion, with layers of meaning and hints of things to come — some savory, some likely to induce tears. The spate of recent results from household names spanning JPMorgan, Citigroup and others show some company-specific commentary and developments, […]